Amazon's Kindle Sales Triple

NEW YORK ( TheStreet) -- Amazon ( AMZN) said its Kindle sales tripled since it cut its price on the device, and e-books have outpaced that of physical books.

Last month, Amazon took $70 off the ticket price of the original Kindle, bringing it to $189. It also slashed the price on its new Kindle DX to $379 from $489. The company, however, still did not provide a number for how many devices have been sold.

This move came after Barnes & Noble ( BKS) lowered the price on its Nook e-reader.

"In addition, even while our hardcover sales continue to grow, the Kindle format has now overtaken the hardcover format," CEO Jeff Bezos said in a statement. "Amazon.com customers now purchase more Kindle books than hardcover books -- astonishing when you consider that we've been selling hardcover books for 15 years, and Kindle books for 33 months."